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The annual license tax to engage in the business of a collection agency within the City shall be twenty-five dollars ($25.00). For purposes of this section solicitation or collection by or through an agent operating within the City shall be considered to be engaging in the business of a collection agency within the City; provided, that before such certificate of license shall be issued to any person, such person shall execute a continuing bond with some solvent surety company as surety thereon in the penalty of two thousand dollars ($2,000), payable to the City, conditioned that such person shall pay all damages accruing to anyone by reason of any unlawful act or action done, performed or taken by such person in and about the conduct of such collection agency. Such bond shall be approved as to such surety by the issuing agent thereof, and such bond shall be recorded in the office of the City Treasurer. The fact of the execution of such bond, the amount thereof and the book and page number in which recorded shall be stamped upon the face of the certificate of license herein to be issued.
(Ord. 1424. Passed 9-15-83.)